If Event a and Event B Cannot Occur at the Same

question 148

Multiple Choice

If event A and event B cannot occur at the same time,then A and B are said to be

• A)mutually exclusive
• B)independent
• C)collectively exhaustive
• D)None of these choices.

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Definitions:

Intense Rivalry

A highly competitive relationship between individuals or entities, often driving innovation and improvement.

Hypercompetition Environment

A market situation characterized by rapid and unpredictable changes which require businesses to be highly adaptive and innovative to survive.

Oligopoly Environment

A market structure in which a few firms dominate the industry, often leading to limited competition and higher prices for consumers.

Monopoly Environment

A market structure characterized by a single seller who has exclusive control over a particular product or service, limiting competition.